Mastering Metrics (2201) - CIM Academy

Scenario:   Preparing for change in the external environment For many organisations the application of metrics and the use of analysis are still relatively new but the use of metrics to support marketing decision making is key, especially given the level of uncertainty that can exist within the marketing environment.   Metrics as a means of measuring and establishing a view on the challenges the organisation faces from changes in the external environment can ensure prompt action when needed to ensure organisational objectives are achieved.   The candidate’s role in this assessment is to act as a Marketing Consultant, who has been employed to assist the chosen organisation in reviewing how metrics can be used to monitor organisation performance in ONE identified area of external environment change relevant to the chosen organisation which is likely to have a significant impact on the organisation over the next three years.   The same chosen identified change should be applied across all three tasks contained within this assignment.   Required:   (a) Using the organisation summary guidelines, provide a background to your chosen organisation. (b) Explain the current marketing metrics and other forms of measurement used in your chosen organisation for monitoring the external environment. (c) Evaluate the effectiveness of metrics and other forms of measurement currently used within the chosen organisation to monitor changes in the external environment.   TASK 2   Required: (a) Describe, using predictive metrics, an external environmental change which will have a significant impact on the chosen organisation over the next three years. (b) Apply data within the metrics identified in Task 2 (a) to determine the extent of the impact the environmental change may represent to the organisation over the next three years to build a test and learn environment. (14 marks) (c) Present the data findings through the completion of a marketing dashboard, highlighting trigger levels within an explanation of the format of the display used for your marketing dashboard.   Required:   (a) Assess the potential benefits to the organisation in the future through the continued use of the metrics identified. (b) Identify additional predictive data sources which could be used by the chosen organisation to improve understanding of the identified external environment change. (c) Evaluate how the additional predictive data sources (outlined in Task) (b) could improve strategic decision making within the chosen organisation.